Ollie's Bargain Outlet (NASDAQ:OLLI) Sets New 52-Week High - Should You Buy?

Key Points

• Ollie's Bargain Outlet reached a new 52-week high of $137.58, with favorable trading volume of 171,712 shares, signaling strong market interest.
• Analyst ratings show a consensus of "Moderate Buy" with a notable price target increases, including JPMorgan raising it to $159.00.
• In its latest quarterly earnings report, Ollie's surpassed expectations with an EPS of $0.75 and a revenue of $576.77 million, reflecting a 13.4% increase year-over-year.

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $137.58 and last traded at $137.47, with a volume of 171712 shares. The stock had previously closed at $133.73.

Analyst Ratings Changes

Several equities analysts have weighed in on OLLI shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $133.00 price target on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Piper Sandler reaffirmed an "overweight" rating and set a $123.00 price target (down previously from $124.00) on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. KeyCorp set a $145.00 price target on shares of Ollie's Bargain Outlet and gave the company an "overweight" rating in a report on Thursday, June 26th. Truist Financial lifted their price objective on shares of Ollie's Bargain Outlet from $126.00 to $128.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Ollie's Bargain Outlet from $137.00 to $159.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Ollie's Bargain Outlet has a consensus rating of "Moderate Buy" and an average price target of $126.79.

Ollie's Bargain Outlet Stock Up 4.2%

The firm's 50 day simple moving average is $122.91 and its 200 day simple moving average is $113.02. The company has a market capitalization of $8.55 billion, a PE ratio of 42.87, a price-to-earnings-growth ratio of 3.01 and a beta of 0.41.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.70 by $0.05. The company had revenue of $576.77 million during the quarter, compared to analyst estimates of $565.04 million. Ollie's Bargain Outlet had a net margin of 8.59% and a return on equity of 12.27%. Ollie's Bargain Outlet's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.73 earnings per share. As a group, sell-side analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insider Activity

In other news, CEO Der Valk Eric Van sold 728 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $112.85, for a total transaction of $82,154.80. Following the completion of the sale, the chief executive officer directly owned 7,761 shares of the company's stock, valued at approximately $875,828.85. The trade was a 8.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.75% of the company's stock.

Institutional Trading of Ollie's Bargain Outlet

Hedge funds have recently added to or reduced their stakes in the business. Next Century Growth Investors LLC lifted its stake in Ollie's Bargain Outlet by 27.6% in the fourth quarter. Next Century Growth Investors LLC now owns 162,136 shares of the company's stock worth $17,791,000 after acquiring an additional 35,075 shares during the period. Caxton Associates LP purchased a new stake in Ollie's Bargain Outlet in the fourth quarter worth about $438,000. Schonfeld Strategic Advisors LLC lifted its stake in Ollie's Bargain Outlet by 85.2% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 5,800 shares of the company's stock worth $636,000 after acquiring an additional 2,668 shares during the period. Teacher Retirement System of Texas lifted its stake in Ollie's Bargain Outlet by 63.8% in the first quarter. Teacher Retirement System of Texas now owns 11,711 shares of the company's stock worth $1,363,000 after acquiring an additional 4,563 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Ollie's Bargain Outlet by 130.5% during the fourth quarter. JPMorgan Chase & Co. now owns 436,366 shares of the company's stock valued at $47,882,000 after buying an additional 247,065 shares during the last quarter.

Ollie's Bargain Outlet Company Profile

Ollie's Bargain Outlet Holdings, Inc is a holding company, which engages in the retail of closeouts, excess inventory, and salvage merchandise. It offers overstocks, package changes, manufacturer refurbished goods, and irregulars. The company's products include housewares, food, books and stationery, bed and bath, floor coverings, electronics and toys.

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